If you have a retail store in Atlanta, you might wonder what insurance coverage you need. It’s important to protect your store, after all, and getting the business insurance you need is a big part of that. In the flurry of getting your merchandise on the shelves (and then off the shelves, ideally), managing your employees, and tending to the store itself, there are a few coverages you might want to consider for your business.
What insurance do I need for retail?
Property.
It’s important that you have the right property coverage for your retail store. Property insurance can help protect the structure itself against losses like fire and lightning. You’ll also want to make sure that you have the right coverage for all of your inventory. That inventory is sort of crucial to your business, right?
General liability.
General liability insurance can help you if one of your business’s guests encounters bodily injury or property damage in the course of their visit to your store. For example, let’s say that you have a customer and they’re browsing, but then they take a bad fall on a worn piece of the carpet. They break both their wrists and need medical care. General liability can help cover their medical expenses, and it can also help cover your legal expenses if the person sues.
Business interruption.
Business interruption can help you if your business has a covered loss and you need to close for a while. You wouldn’t be able to generate income, but that’s where business income coverage can help by reimbursing you for the income you’ve lost. If you have to operate out of a temporary location, business interruption could also help you out by covering the “above and beyond” expenses that you accrue because you’re not able to operate out of your normal location.
PRO TIP: A Business Owner’s Policy (or BOP) combines GL, property, and BII coverage into one convenient policy. Check and see if it would be a good fit for your business – you might save money!
Workers’ comp.
Workers’ compensation can help if one of your employees gets hurt on the job. For example, if one of your employees is rushing around trying to assist a client and they take a bad fall, they could break an ankle and hit their head, requiring stiches. Workers’ comp could help with their medical bills, and it could also provide them with a portion of their lost wages if they need to take time off to recover.
Note: By Georgia law, you may be required to have workers’ comp insurance if you have three or more employees. Make sure you’re complying with state insurance requirements.
Crime coverage.
You may also want to consider crime insurance for your business. There are several different things that crime coverage can protect your business from, and it’s important to make sure that your crime policy is customized for your business. For example, crime coverage can protect you from…
- Employee dishonesty
- Theft of money and securities
- Robbery
- Forgery or alteration
(Make sure that your crime coverage protects you from the losses that you want to be covered!)
Other coverages to consider:
These are some of the coverages you can consider for your business, but there are others that could benefit you. These may not be the only coverages you need. Some other coverages you can consider are…
- Employment practices liability insurance (EPLI)
- Cyber
- Flood insurance
- Employee benefits
- Umbrella
How do I get retail insurance?
You might wonder how you can go about getting retail insurance for your store. Perhaps you’re worried that the process will be tedious and complicated. Well, our agents are great at helping small businesses get the coverage they need to protect themselves. Here’s how it works…
You fill out our online form or give us a call.
The process starts when you let us know that you’re on the hunt for insurance. Just drop us a line in whatever manner of communication you prefer (phone call, online form, LiveChat) and we’ll be there to help.
We’ll ask a few questions.
One of our insurance professionals will have a few questions for you just so they can get to know you and your business. We want to make sure we understand your business and the coverages you’ll need so we can best assist you with quotes. But don’t worry – we know you’re busy, so we’ll be quick about it.
We go shopping.
We’ll gather multiple quotes for your business insurance so that you have different options to consider. We work with many carriers.
We come back with your quotes.
After that, we’ll go over your retail insurance quotes with you so that you know what your choices are. We’ll answer any questions you have and explain the things that need explaining.
We’re here to help.
After that, we’re here to assist with any of your insurance needs or questions. We don’t just abandon you after getting you your insurance. We’re just a phone call or email away if you need us!
